Caringhouse Projects Incorporated
- Assets
- $40.6m
- Revenue
- $48.1m
- Investments
- $0.0
- Employees
- 858
- Location
- Atlantic City, NJ
- Founding
- 01/1988
- Data as of
- 03/2023
- EIN
- 22-2464198
Organization Overview
Caringhouse Projects Incorporated is located in Atlantic City, NJ. The organization was established in 1988. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 03/2023, Caringhouse Projects Incorporated employed 858 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caringhouse Projects Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Caringhouse Projects Incorporated generated $48.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $43.7m during the year ending 03/2023. While expenses have increased by 7.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CARINGHOUSE PROJECTS, INC. IS A CHRISTIAN BASED ORGANIZATION SERVING THE FRAIL, IMPAIRED AGED AND DISABLED, YOUNG ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARINGHOUSE RESIDENCES PROVIDE CARE, COMFORT AND THERAPEUTIC SERVICES, AND COMMUNITY BASED LIVING ARRANGEMENTS FOR DEVELOPMENTALLY DISABLED INDIVIDUALS WHO CANNOT LIVE ALONE. THE ORGANIZATION MANAGES FIFTY-FOUR GROUP HOMES LOCATED THROUGHOUT NEW JERSEY PLUS TWO SUPPORTIVE HOUSING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Darcy Board Chair | OfficerTrustee | 0.5 | $0 |
Bob Conover Board Vice Chair | OfficerTrustee | 0.5 | $0 |
N Lynne Hughes ESQ Board Secretary | OfficerTrustee | 0.5 | $0 |
Lou Blumberg Board Member | Trustee | 0.5 | $0 |
Anthony Harris Board Member | Trustee | 0.5 | $0 |
Joseph Dougherty ESQ Exec Director Operations | Officer | 33.8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Merit Corporation Group Home Cabinetry | 3/30/18 | $110,565 |
Alex Contractors Llc Group Home Renovations | 3/30/18 | $107,660 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $48,024,672 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,218 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,059,034 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,577,233 |
| Pension plan accruals and contributions | $1,054,729 |
| Other employee benefits | $1,513,902 |
| Payroll taxes | $2,690,427 |
| Fees for services: Management | $4,446,087 |
| Fees for services: Legal | $11,309 |
| Fees for services: Accounting | $107,030 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $337,803 |
| Advertising and promotion | $0 |
| Office expenses | $1,175,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,114,333 |
| Travel | $813,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $530,667 |
| Insurance | $107,835 |
| All other expenses | $10,872 |
| Total functional expenses | $43,672,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,820,736 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,874,163 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $134,825 |
| Net Land, buildings, and equipment | $3,387,191 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,422,879 |
| Total assets | $40,639,794 |
| Accounts payable and accrued expenses | $1,865,739 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,222,066 |
| Total liabilities | $3,087,805 |
| Net assets without donor restrictions | $36,535,601 |
| Net assets with donor restrictions | $1,016,388 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $40,639,794 |